“My father bought and paid for our suburban Vancouver home within 2 years on a city worker’s wage. Second largest country in the world and I can’t afford a 50 year old house on a postage size lot in the suburbs. Things are supposed to get better, not worse.”

“My father bought and paid for our suburban Vancouver home within 2 years on a city worker’s wage, he paid for property taxes with one day’s pay. 2nd largest country in the world and I can’t afford a 50 year old house on a postage size lot in the suburbs. things are supposed to get better, not worse.”
Led at greaterfool.ca 10 Dec 2012 11:21pm

23 responses to ““My father bought and paid for our suburban Vancouver home within 2 years on a city worker’s wage. Second largest country in the world and I can’t afford a 50 year old house on a postage size lot in the suburbs. Things are supposed to get better, not worse.”

  1. The Poster Formerly Known As Anonymous

    Things are not worse now. Things are just… a different kind of better.

    Your dad is rich!

    You just need to work harder, buy an 800 sq ft condo, and you will be rich soon too!

    And if not, just hang tight, we are in the process of filling up this little groove in the mountains with ten-twenty times more people than were here when your dad bought his first house. Things are sure to get even better then!

  2. That’s when you know real estate is extremely overvalued. Either wages have not kept up with inflation or real estate in atrociously overvalued. Probably a combination of the two. Your best bet is to move out to the valley. You can buy a detached home with land. Don’t make the mistake and buy the 800 sq ft pie in the sky.

  3. Bob Rennie the 3rd, December 12, 2062.

    My granddad bought a 500 sf home in 2012 and took 40 years to pay it off. Boy, things were sure easier back in 2012! Now, I bought a 50 sf home for $30 million and it will take 500 years to pay it off… because real estate only went up, up, up!

    Luckily, I sub-let a closet to six of the 2 million Chinese Nationals who have been brought in to work at the Christie Clark mine in northern BC.

  4. “Second largest country in the world.”
    And for some strange reason we are hell bent on cramming ourselves like sardines into three metropolitan areas. I really don’t get it.

    • 95% of it is harsh and unliveable. Why do you think virtually all the population is crammed along the 49th parallel?

      • Cyril Tourneur

        The middle of the bald prairie can be harsh but is also very livable. I know this from experience.

      • Naked Official #9000

        I would love to live anywhere else in the country – as long as its far away from all the idiots here – they can’t even stop at a stop sign.

      • Even if 95% was unliveable, we’re still very very sparsely populated.
        The land shortage is a preposterous fiction.

    • Almost all industrial and post-industrial societies are highly urbanized – why would it be any different in Canada?

      Cities are magnets for economic activity – that’s why the bigger cities tend to get bigger. Ask yourself why Chicago is much bigger than Cleveland? There is no obvious geographical advantage. These cities were once of comparable size. Once the small advantages Chicago had created a faster growth path, the differences became magnified.

  5. The Poster Formerly Known As Anonymous

    Since you’re up late, V… Remember the kid I mentioned about a year ago whose parents sold to a developer and moved from 1.4 M house to 1.6M house? Just wondering if anyone knows how the presales are going at the development that is slated to be built on their former home. It is “Wall Centre at Central Park.” It’s one of Rennie’s to market.

  6. The Poster Formerly Known As Anonymous

    here is one link with some details on the rezoning approval in January. I am guessing they must have had informal approval for zoning change before they bought up all 36 parcels?

    http://www.jackying.ca/blog/news-and-updates/boundary-and-vanness-new-development-approved/

  7. The Poster Formerly Known As Anonymous

    this is interesting:
    http://www.century21.ca/Property/BC/V5E_1M7/Vancouver/Boundary_Road/5581

    “all Centre Central Park by Wall Financial Corporation is the newest condo and townhome community to the popular Collingwood district of Vancouver. Wall Centre Central Park is located at 5581 Boundary Road Vancouver which is walking distance to the Skytrain, Central Park and Collingwood Neighbourhood House. Wall Centre Central Park will feature three thirty storey towers with a total of 1,114 suites for sale. 349 of the homes will be priced under $349,000. There will be a wide variety of floorplans available including studios to two bedrooms. VIP previews for Wall Centre Central Park begin in June 2012, expect a quick sell out due to location and affordability.”

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